EX-12 3 p930200110q12a.htm PACIFICORP SEPTEMBER 30, 2001 10Q EXHIBIT 12A PacifiCorp 9-30-01 10Q Exhibit 12(a)

EXHIBIT (12)(a)



PACIFICORP
STATEMENTS OF COMPUTATION OF RATIO
OF EARNINGS TO FIXED CHARGES


Years Ended December 31,


Years Ended

Six Months
Ended

 


1996


1997


1998

March 31,
2000

March 31,
2001

September 30,
2001

 

(In Millions of Dollars)


Fixed Charges, as defined:*

  Interest expense
  Estimated interest portion of
    rentals charged to expense
  Preferred dividends of
    wholly owned subsidiary

      Total fixed charges




$  415.0 

4.1 

    15.3 

$  434.4 




$  438.1 

6.6 

    32.9 

$  477.6 




$  371.6 

5.7 

    42.9 

$  420.2 




$  341.4 

5.2 

    74.0 

$  420.6 




$  290.4 

2.9 

   (29.6)

$  263.7 




$107.4 

7.0 

  24.5 

$138.9 


Earnings, as defined:*

  Income from continuing operations
  Add (deduct):
    Provision for income taxes
    Minority interest
    Undistributed loss (income) of
      less than 50% owned affiliates
    Fixed charges as above

      Total earnings




$  430.3 

236.5 
1.8 

(18.2)
   434.4 

$1,084.8 




$  232.9 

111.8 
1.9 

(11.1)
   477.6 

$  813.1 




$  110.6 

59.1 
(0.7)

10.3 
   420.2 

$  599.5 




$  82.6 

134.0 
0.1 

2.6 
   420.6 

$  639.9 




$  (88.2)

180.4 
0.1 

1.4 
   263.7 

$  357.4 




$134.1 

98.1 
- 

- 
 138.9 

$371.1 


Ratio of Earnings to Fixed Charges


2.5x 


1.7x 


1.4x 


1.5x 


1.4x 


2.7x 


*"Fixed charges" represent consolidated interest charges, an estimated amount representing the interest factor in rents and preferred dividend requirements of majority-owned subsidiaries. "Earnings" represent the aggregate of (a) income from continuing operations, (b) taxes based on income from continuing operations, (c) minority interest in the income of majority-owned subsidiaries that have fixed charges, (d) fixed charges and (e) undistributed income of less than 50% owned affiliates without loan guarantees.